Cambria County Employees' Retirement System, Ebensburg, Pa., hired Prime Solutions to conduct the first independent review of the $130 million plan, said Antoinette Sherry, deputy comptroller. The retirement board wants "to make sure that everything is on the up and up," Ms. Sherry said. Prime Solutions will review the plan's money managers, its consultant, asset allocation and overall investment policy, she said. The date for completing the review has not been set. Ms. Sherry declined to speculate on the outcome.
According to the Money Market Directory, managers as of March 2003 were Brandes, Chase Investment, Crawford Investment, Evergreen, C.S. McKee and Thomson, Horstmann & Bryant. Legg Mason is the investment consultant. The asset allocation is 76% equity, 24% fixed income.